{"database": "press", "table": "releases", "rows": [["https://paulsen.house.gov/index.cfm?sectionid=22&itemid=1852", "Paulsen-authored Bill to Empower Startup Employees Passes in the House", "2016-09-22", "2016", "2016-09", "Republican", "House", "MN", "Erik Paulsen", "P000594", "paulsen.house.gov", null, null, "legacy", "Washington, D.C.\u2013 In a bipartisan vote, the U.S. House of Representatives approved legislation authored by Congressman Erik Paulsen (MN-03) to promote employee ownership at startup companies and encourage innovation. H.R. 5719, the Empowering Employees through Stock Ownership Act, helps employees keep their ownership interests and utilize all options offered to them when taking a new and exciting job at a startup.\r\n\r\n\t\u201cStartup companies are the birthplace of innovation and the next \u2018big idea,\u2019 which is why this bipartisan legislation ensures this vital part of our present and future economy can attract the best talent,\u201d said Congressman Erik Paulsen.\u201cBy promoting employee ownership at these cutting-edge companies with a commonsense fix to our tax code, we can keep America on the forefront of innovation and entrepreneurship.\u201d\r\n\r\n\tClick on the video below\u00a0for Congressman Paulsen\u2019s remarks on the bill on the U.S. House floor.\r\n\r\n\r\n\tAt many startup companies, employees are offered stock options or equity interest as part of their compensation. Currently, if employees exercise these options, they are required to immediately pay taxes often times before they may have the available cash to do so. As a result, these rank-and-file employees cannot afford to exercise their stock options and therefore miss out on a significant financial opportunity. This is a deterrent to many that wish to join a startup company. The\u00a0Empowering Employees through Stock Ownership Act\u00a0will help startup companies attract and keep top talent by allowing employees to defer the taxes on their stock options until they are likely to have the funds necessary to make their tax payment.\r\n\r\n\tFor complete text of the bill,\u00a0click here.\r\n\r\n\tCongressman Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, serves on the House Ways and Means Committee, the bicameral Joint Economic Committee, and is co-chair of the Congressional Medical Technology Caucus.\r\n\r\n\tFor more information on Congressman Paulsen\u2019s work in Congress visit\u00a0paulsen.house.gov.\u00a0\u00a0\r\n\r\n\t\u00a0\r\n\r\n\t###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://paulsen.house.gov/index.cfm?sectionid=22&itemid=1852"], "units": {}, "query_ms": 1.5672999434173107, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}